Revolut Receives Conditional Approval for U.S. Bank Charter

British fintech Revolut received conditional approval from the Office of the Comptroller of the Currency for a national bank charter, marking a primary step toward launching a full-service American bank. The company expects to open the bank in the first half of 2027, pending further approvals from the Federal Reserve and the Federal Deposit Insurance Corporation.

Based in Stamford, Connecticut, the new venture will receive a capital injection of approximately $95 million and employ around 160 people. The bank plans to offer a suite of products including checking accounts, credit cards, installment loans, foreign exchange services, and a stablecoin.

Chief Executive Nik Storonsky stated that the approval provides the foundation to build in the world's largest financial market and bring the full Revolut experience to millions of Americans. This expansion follows the company's recent acquisition of banking licenses in France and the United Kingdom.